You’re a growing business and your products are in high demand; this would sound like perfect news to many, but how do you plan on storing your products up until the time when they are purchased?
Whether you’re the head of a small business or a corporate company, each and every one of you will come across a business storage issue within your lengthy career; so when the time comes, here’s what to do.
Start Up Businesses
A start up business will not require a large amount of space to store their products so there are a number of solutions that you can utilise in order to save space when storing your products.
The first solution is for you to use any available space at your home, for instance a spare room, cupboards or anywhere that is empty can help to make more space available to you.
Also, if you have an attic or a basement you can use these to store your products and make the most of the empty space in your home.The advantage of storing your products at home is that you never have to travel very far in order to pick out an item and send it for delivery; although a disadvantage is that you may struggle to relax with so many items lying around reminding you of work.
As you continue to grow you may find that your stock levels increase and so the need for space is also larger. Instead of storing all of your products within your home you may need to move them elsewhere; this is the point at which you should purchase a shed or build an outbuilding so that you can store all items close to home.
An advantage of storing your products so close to home but within a shed or outbuilding is that you still do not have to travel far to pick up your products but they’re also outside of your living space so you won’t see them everyday and you can switch off entirely in the comfort of your own home.
However, disadvantages include that the shed or outbuilding may not be entirely secure, especially when compared to your home; whilst sheds and outbuildings are also prone to damp and pests that could lessen the quality of your products.
A growing company will require more space than a single home or shed can provide; due to this you may find yourself asking relatives if they would be willing to hold a specific amount of stock until you have need of it.
An advantage of asking your relatives or friends to look after your products is that you know they are safe and you will not be charged for storing them; although there are many disadvantages to this plan too.
The disadvantages include disturbing your family and friends each and every time you wish to retrieve your stock as well as the tension that would be placed on your friendship or relationship should you outstay your welcome.
It’s best that you utilise your family and friends as a last resort so that there can be no arguments or misunderstandings that may affect your relationship with the individuals concerned.
An Established Business
An established business cannot be run from home and so neither can the stock or products be stored at home. Once you are running an established business it is time that you sought a serious storage solution such as renting storage space close to your home.This will prevent you from having to travel far to retrieve your stock but you can also store much larger quantities than if you were to utilise your own home or the homes of your friends and family.
A clear advantage of renting storage space is that storage facilities are generally quite flexible regarding rentals and come with various security measures to protect your stock.
A small disadvantage when compared to other storage solutions is the associated cost but this is all part of the business process and must be factored in when deciding the price of your product.